NEWS

Canadian home sales decline further in August

Ottawa, ON, September 15, 2016 - According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined for a fourth consecutive month in August 2016.

Highlights:

• National home sales fell 3.1 per cent from July to August
• Actual (not seasonally adjusted) activity came in 10.2 per cent above August 2015
• The number of newly listed homes declined 2.7 per cent from July to August
• The MLS® Home Price Index (HPI) rose 14.7 per cent year-over-year in August
• The national average sale price climbed 5.4 per cent in August from one year ago

The number of homes trading hands via Canadian MLS® Systems fell by 3.1 percent month-over-month in August 2016 – the largest monthly decline since December 2014. Together with declines in each of the three previous months, the slowdown in August places national home sales activity 6.9 per cent below the record set in April 2016.

To read the full release, click here.